This paper develops a new phonological analysis of Particle Stranding Ellipsis (PSE) in Japanese as an alternative to the recent, purely structural analysis of the phenomenon (Sato 2012; Goto 2014). Drawing on Shibata’s (2014) observations, we propose that PSE results from String Deletion in the phonological component (Mukai 2003), which has the function of aligning the left edge of the first intermediate phrase to that of the utterance phrase. We then turn to investigate the relationship between PSE and other ellipsis cases in Japanese. We present various arguments, based on sloppy readings, partial negation, disjunction, and parallelism, to show that PSE involves argument ellipsis, one of the most intensively investigated phenomena in the latest generative literature on Japanese syntax (Oku 1998; Saito 2007; Takahashi 2008), arguing against the conceivable pro-drop alternative. The two results derived here, therefore, strongly suggest that the derivation of PSE involves PF-ellipsis.